Latest Germany Headlines
All the headlines from our Germany Topic Page, ordered by recency.
Gallagher Acquires Lloyd’s Broker MRS; Willis Ups Stake in German Broker JWA
Nov 28 2001 // Two of the world’s biggest insurance brokers are growing. Arthur J. Gallagher & Co. announced that it had acquired MRS Holdings Ltd. of London for an undisclosed amount, and Willis Group Holdings said it will...
German Gov’t. To Ease Asset Value Rules for Insurers
Nov 7 2001 // The German government has introduced legislation designed to ease the rules on the valuation of their equity investments for German insurers, who have been exposed both to increased claims resulting from the Sept. 11...
Global Insurers Acknowledge Increased Exposures from Attacks
Oct 10 2001 // A number of global insurers/reinsurers have acknowledged greater exposure to claims related to the destruction of the World Trade Center, with increased estimates for the amount they expect to pay out. The total cost to...
Zurich Sells Scudder Financial Unit to
Sep 25 2001 // The Anglo-Swiss group Zurich Financial Services (ZFS) and Germany’s Deutsche Bank (DB) announced agreement on a number of cooperation initiatives and the sale of business assets, most notably the transfer of fund...
International Insurance Stocks Plunge for
Sep 13 2001 // The day after the Sept. 11 terrorist attacks on the U.S, insurance stocks fell significantly in international trading. The DJ Stoxx insurance index reportedly fell to a three-year low at 8:27 a.m. EDT, following a 13...
RMS Adds Japanese, German Data to Weather Risk Management System
Aug 23 2001 // Risk Management Solutions announced that its Climetrix (TM) weather derivatives trading and risk management system now includes relevant temperature data from Germany and Japan, two expanding markets for weather derivative...
Nationwide Agrees to Sell Neckura Holding AG
Jul 17 2001 // According to an A.M. Best report, Nationwide Mutual Insurance Co. said it agreed to sell Neckura Holding AG, the parent of its German automobile insurance operations, to Zurich Group Germany, a unit of Switzerland’s...
Allstate To Sell German, Italian Auto to Direct Line
Jun 21 2001 // Allstate announced yesterday that it would sell its direct auto insurance businesses in Germany and Italy to the U.K.’s Direct Line. The German operation, launched in 1997 has around 117,000 policies in force. The...
Element Re’s First Deal Covers German Rainfall Risk
May 25 2001 // Bermuda-based Element Re, a subsidiary of XL Capital, has concluded its first international deal: a policy to protect the German utility provider Elektrizitatswerk Dahlenburg AG from any adverse economic effects from...
Allianz Moves To Reduce Eon Shareholding
May 8 2001 // Germany’s Allianz AG announced that it was considering reducing its holdings, estimated to be worth around $3.8 billion, in the German power company Eon to facilitate its acquisition of British utility company...
Allianz Makes Deal to Purchase Dresdner Bank for $20.5 Billion
Apr 9 2001 // After a week of intensive negotiations, Allianz AG and Dresdner Bank, Germany’s third largest, announced on April 1 that they have agreed to join forces to create Germany’s biggest financial institution. With...
Allianz To Purchase Dresdner Bank For $20 Billion
Apr 2 2001 // After a week of intensive negotiations, Allianz AG and Dresdner Bank, announced an agreement to join forces to create the Germany’s largest financial institution. The boards of both companies approved the merger plan...
Allianz Confirms Dresdner Talks – Deutsche Bank and Commerzbank Watch and Wait
Mar 30 2001 // “Allianz and Dresdner Bank confirm strategic talks concerning the creation of a leading integrated financial services provider for insurance, investment and banking services. The talks are in an advanced stage, but...
Allianz, Munich Re Near Agreement on Bank Takeover, Share Swap
Mar 29 2001 // The German banking and insurance sector, like a volcano that has long been threatening to erupt, may finally explode this weekend. Two of the world’s largest insurance groups, Allianz AG and Munich Re are reportedly...
Allianz In Talks With Merrill Lynch
Mar 26 2001 // According to a report in Germany’ Der Spiegel Magazine, Allianz AG officials have held talks with financial giant Merrill Lynch aimed at establishing a cross selling arrangement between the two companies in the U.S....
Struggle Continues Over Payment of Holocause Claims
Mar 26 2001 // The Western world is haunted by the specter of the German government killing millions upon millions of Jews (and others) in concentration camps. I couldn’t sleep when I first saw the pictures in the 1950s. My...
AXA Net Operating Profit Up 21.2% At $2.07 Billion
Mar 15 2001 // France’s AXA announced results slightly above analysts’ forecasts on Wednesday, stating: “Net income rose 21.2% to an all-time high of Euro 2,261 million {$2.07 billion} from Euro 1,865 million {$1.706...
Paying for Holocaust Insurance Claims
Mar 5 2001 // The Western world is haunted by the specter of the German government killing millions upon millions of Jews (and others) in concentration camps. I couldn’t sleep when I first saw the pictures in the 1950s. My...
Frankel Escape Attempt As Extradition Nears
Mar 1 2001 // According to a report in the Associated Press fugitive financier Martin Frankel attempted to escape from the German prison where he is awaiting extradition to the U.S. by sawing through the bars of his cell. Alerted by a...
Concorde May Fly Again, Despite Lawsuits by Grieving Passenger Families
Feb 5 2001 // Last summer’s tragic Concorde crash continues to produce heartache as the lawsuits multiply and negotiations break down. Settlement talks between the lawyers for the victims’ families and Air France and its...
